Monday, 4 May 2015

Economic and Real Estate News

Last week, CMHC released the first of two editions of its House Price Analysis and Assessment scheduled for this year. 

The report is intended to identify problematic conditions in Canada's housing markets and it shows some modest overvaluation at the national level with two markets, Regina and Winnipeg, identified as posing a high risk of correction.

The Federal Competition Tribunal issued a ruling last week in favour of CREA and its policy of distancing prospective buyers from sellers contact information on the website. Another hearing before the tribunal involving TREB and its efforts to restrict public access to detailed property by property sales information is scheduled for September.

The Calgary Real Estate Board led off in reporting April sales data on Friday. Both buyers and sellers in Calgary are adjusting their strategies and expectations as the market experienced its fifth consecutive monthly benchmark price decline.

Statistics Canada reported February GDP results last week. Harsh winter weather and continuing issues in the energy sector contributed to the Canadian economy's flat output in February but that result actually exceeded most economists' expectations.  

The benchmark government of Canada five year bond yield ended the week at 1.05%, up from 0.88% the previous week.


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